HOUSING DEVELOPMENT CORPORATION (EIN 870428887) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1987

Legal Domicile

Phone

8014820554

Tax Period

2023-01-01 to 2023-12-31

HOUSING DEVELOPMENT CORPORATION, founded in 1987, is a community nonprofit in the Housing & Shelter sector that reported $1.4M in total revenue in fiscal year 2023. Revenue surged 38% from the prior year, signaling strong growth momentum. Net assets of $3.1M represent 26 months of operating reserves.

Mission

PROVIDE AFFORDABLE HOUSING TO LOW INCOME INDIVIDUALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,182,174

Investment Income $54,487

Other Revenue $193,787

TOTAL REVENUE $1,430,448

Expense Breakdown

Grants Paid $0

Salaries & Benefits $279,375

Fundraising Expenses $0

Program Expenses $1,149,776

Other Expenses $1,121,628

TOTAL EXPENSES $1,401,003

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,430,448	$1,036,774	+0.4%
Expenses	$1,401,003	$1,043,085	+0.3%
Net Income	$29,445	$-6,311	-5.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PALMER DEPAULIS	COMMISSIONER	1.00	Director	$0	$0	$0
BRENDA KOGA	BOARD CHAIR	1.00	Director	$0	$0	$0
PHILIP BERNAL	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM DAVIS	VICE CHAIR	1.00	Director	$0	$0	$0
FRASER NELSON	COMMISSIONER	1.00	Director	$0	$0	$0
MIKE PAZZI	Chairman	1.00	Director	$0	$0	$0
TESS CLARK	ADVISOR	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,430,448	$1,401,003	$3,533,081	$29,445
2022	$1,036,774	$1,043,085	$3,410,003	$-6,311
2021	$1,019,491	$829,691	$3,374,801	$189,800
2020	$973,940	$849,003	$3,202,186	$124,937
2019	$938,375	$839,777	$3,072,317	$98,598
2018	$888,451	$733,230	$2,961,017	$155,221

HOUSING DEVELOPMENT CORPORATION